July 8, 2019
TORONTO, July 08, 2019 (GLOBE NEWSWIRE) -- EarthRenew Inc. (CSE:ERTH) (“EarthRenew” or the “Company”) is pleased to announce the appointment of Chris Best to the board of the directors of the Company and the results of its annual general and special meeting of shareholders (“AGM”) held on Friday, June 28, 2019 in Toronto Canada.
The nominees listed in the management information circular (the “Circular”), which was mailed to EarthRenew shareholders of record as of May 21, 2019, were elected to the board of directors of the Company to hold office until the next annual meeting of shareholders or until their successors are duly appointed or elected.
A total of 21,445,601 common shares were voted at the AGM, representing approximately 24.5% of the issued and outstanding common shares of the Company.
In addition, EarthRenew shareholders received the audited consolidated financial statements of the Company for the year ended December 31, 2018 and approved all of the other resolutions detailed in the Circular and put forward at the AGM, namely:
The Circular is available under EarthRenew’s profile on SEDAR at www.sedar.com.
Chris Best Appointed to Board of Directors
The Company is also pleased to announce the appointment of Chris Best to the board of directors of the Company, effective immediately.
Chris Best has over 25 years’ experience in the energy sector. He has held a variety of positions in integrated oil and gas companies, pipelines, utilities, energy marketers, and independent power producers. He has experience in accounting, credit, counterparty risk, environmental policy, forecasting, marketing, business development, trading and operations groups. Mr. Best holds a B.Comm in Finance from the University of Calgary, Faculty of Management, Haskayne School of Business.
Keith Driver, the Company’s CEO commented:
“We are very excited to have Mr. Best join the EarthRenew team. He brings a wealth of knowledge and experience from his familiarity with the electricity market regulatory environment in Alberta and across North America and his understanding of facility and capacity market development.”
Stock Option Grant
EarthRenew has granted 1,550,000 stock options to certain directors, officers and consultants of the Company pursuant to the Company’s stock option plan. The stock options vest immediately and may be exercised at a price of $0.10 per common share for a period of five years from the date of issue. This grant of options is subject to the approval of the Canadian Securities Exchange.
EarthRenew is a low-cost sustainable power-generation company with a patented production process that converts livestock waste to nutrient-rich, slow-release pelleted organic fertilizer. EarthRenew converts natural gas to electricity from an industrial-sized gas turbine which it intends to capitalize on through various revenue drivers. These include selling surplus electricity to the electrical grid and to cryptocurrency miners which can co-locate on site and to dry manure feedstock to produce high value organic fertilizer. The Company has a commercial scale operation in Strathmore, Alberta.
For additional information, please contact:
CEO of EarthRenew
Phone: (403) 860-8623
Cautionary Note regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the election and appointment of directors. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the energy and fertilizer industries and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.